Are you looking for a top-tier crypto exchange that provides an extensive selection of helpful features? Stop looking, Huobi Global is here! Although the platform’s wealth of features could be intimidating to first-time users, our Huobi review will give you a detailed summary of all you need to know.
Huobi, which was established in Beijing in 2013, quickly grew to become one of the biggest cryptocurrency exchanges in China. Yet when the regulatory environment changed, Huobi was compelled to move its operations offshore. With over 10 million users, the platform has since developed into one of the most active crypto exchanges in the world.
So, let’s dive deeper into this review and get started!
What Is Huobi?
After starting out in China in 2013 and providing a lot of liquidity for Bitcoin traders, Huobi was forced to relocate due to regulatory issues. This crypto exchange eventually established a new headquarters in Singapore, from which it expanded to other Asian markets and beyond.
Huobi is your one-stop shop for all things crypto, whether you’re buying, selling, trading, earning, or storing them. Plus, Huobi offers a wide range of payment alternatives, supported fiat currencies, and reasonable base fees of just 0.2%.
With over 500 high-quality cryptocurrencies available for sale today, Huobi claims to service tens of millions of customers across more than 100 nations.
Despite setbacks such as regulatory issues and accusations of wash trading, Huobi has remained committed to creating a vibrant environment for crypto assets. Huobi is one of the most liquid crypto exchanges in the world thanks to the Huobi Token (HT), a stablecoin backed by the dollar called HUSD, and the Huobi Eco Chain, among other significant features.
How to Open an Account at Huobi
Are you prepared to start trading on one of the best crypto exchanges in the world? It only takes a few minutes to set up a Huobi account, whether you use the website or the mobile app, so bear with us as we continue our Huobi exchange review.
Simply click the sign up button on the Huobi website or app, download it, and select whether to register with your email address or phone number. Set up your password after completing the anti-bot verification and entering the verification code you’ve been given.
You are now prepared to begin browsing Huobi’s huge collection of over 500 cryptocurrencies.
After signing up for Huobi, you’ll have access to a variety of tools and resources; here, we’ll go over the best of the bunch.
Over 500 Best Cryptocurrencies
The Huobi exchange supports a broad range of cryptocurrencies and tokens, including the ones listed below.
- Bitcoin (BTC)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Ethereum (ETH)
- Tether (USDT)
- Dogecoin (DOGE)
- Huobi Token (HT)
- Huobi USD (HUSD)
- Monero (XMR)
- Tron (TRX)
- Uniswap (UNI)
- Zcash (ZEC)
Huobi’s platform now accepts over 500 different digital currencies, and new assets are being added daily. More than a dozen fiat currencies, including the US dollar, the Euro, and the British pound, are supported by Huobi crypto exchange, making it a flexible and user-friendly option for all traders on a global level.
With Huobi Earn and a variety of products to choose from, you can earn passive income on your idle assets and achieve financial growth.
Huobi Earn offers deposit products with flexible or fixed terms, allowing you to earn rewards while maintaining the liquidity of your assets. You can also invest in structured products like Dual Investment to earn high returns and minimize risk.
Staking and voting projects are available too, enabling you to earn high returns by holding PoS coins and investing them. And with Huobi ETH 2.0, you can stake your ETH with just one click and receive BETH as the staking certificate, all while enjoying the liquidity of your assets.
Huobi’s copy trade feature is like having a personal stock market guru, but without the hefty fees. You can automatically copy the trades of successful traders and potentially boost your portfolio, all while enjoying a front-row seat to their performance.
Moreover, as our Huobi Global review revealed, the traders are motivated to perform well because they earn a percentage of their followers’ profits. It’s a win-win situation for everyone involved! As such, what sets Huobi’s copy trading apart from other platforms is how easy it is to use and how transparent the performance tracking is.
You can see the total profits, win rate, and the number of followers of each trader, giving you all the information you need to make an informed decision. Our only wish is that traders could provide a brief description of their strategies, so you can get a better sense of how they’re achieving such impressive results.
Crypto Trading Bots
Grid trade bots, a recent addition to Huobi’s platform, have attracted the interest of many traders. These bots can automatically place buy and sell orders for customers within a predetermined price range, simplifying and streamlining trading.
Users have the option of manually configuring the grid trading bots or using Huobi’s prebuilt bots. As a result, it’s simpler for traders, especially newcomers, to enter the market and begin to trade.
But, it’s important to note that Huobi Global exchange’s grid trading is a tool that can’t make recommendations in regards to any digital asset or product. It’s not likely to make a profit if the market has a sideways trend, meaning you have to adjust your strategy accordingly.
Huobi Eco Chain
Huobi Eco Chain (HECO) is a public blockchain platform that Ethereum developers can use to create blockchain projects. It’s similar to Ethereum, but it’s cheaper and faster. HECO’s built-in DeFi ecosystem allows users to seamlessly integrate smart contracts, wallets, assets, and applications.
Also, HECO offers training and other online tools to support your transition to yield farming. Why not try HECO and take part in the blockchain revolution that is environmentally friendly?
Platform Exchange Tokens
HUSD and HT are Huobi’s two exchange tokens. While HT is a platform token that is just as speculative as the newest celebrity fad, HUSD is a stable coin backed by USD. If you want to have a say in how Huobi is run in the future, HT may be worth looking into since it’s used for staking, reduced fees, and voting rights.
You might think of Huobi’s Learn section as your very own crypto professor, minus the dull lectures and the mountain of homework. It’s a treasure trove of articles and videos that cover everything from the basics of cryptocurrency to more advanced investment strategies. Plus, you can easily filter the articles by topic, so you can dive straight into the areas that interest you the most.
Huobi App Review
Huobi’s mobile app has you covered if you’re always on the move. The software is accessible on both iOS and Android devices and features an intuitive design that makes trading 500+ coins a breeze.
But that’s not all; Huobi also offers an assortment of other apps to enhance your mobile trading experience. Huobi Chat allows you to socialize with other traders, and Huobi Pool allows you to start mining and earn coins if you are interested in mining. Moreover, you can also access your crypto wallet on the go with Huobi Wallet.
Huobi Exchange Welcome Offer
Huobi doesn’t fall short when it comes to promotions, and its welcome offer allows you to complete Beginner’s and Trading tasks and win up to 5,672 USDT, including cashback vouchers for spot trading and trial bonuses for futures trading. Simply claim your rewards via the app or website, and Huobi will credit your account within 10 working days.
Huobi Fees and Pricing
Huobi offers a number of payment options across the globe, so you’re sure to find one that works for you. When it comes to minimum deposit, each token has its own minimum deposit requirement, with USDT at a minimum of 100 USDT and BTC at 0.001 BTC. And when it comes to withdrawals, a verified account gets you a whopping 3,000 BTC limit per 24 hours.
In contrast, the maximum withdrawal amount is significantly smaller for accounts that haven’t been verified. If you have signed up for a Huobi account but haven’t yet verified your identity, you can only withdraw a maximum of 0.06 BTC every day.
Moreover, Huobi doesn’t discriminate between makers and takers when it comes to trading costs; both pay a flat rate of 0.2%, with the possibility of a fee reduction to 0.1% based on your trading volume.
Security: Is Huobi Safe?
Huobi Global doesn’t cut corners when it comes to safeguarding your assets. As such, Huobi is a top-tier digital financial service provider that puts your security first, with several years of experience managing over a billion dollars and serving millions of users. Despite facing its fair share of regulatory obstacles in the past, the company eventually got back on track.
But how does Huobi guarantee the security of your assets when you purchase and sell coins on their platform? Simple: Huobi secures your transaction by freezing merchant coins until you pay them.
You can also be sure that you’re doing business with a reputable seller because there are strict certification criteria for merchants, and 98% of digital currency is kept in multi-signed cold wallets.
Also, when it comes to exchange transactions, our Huobi.com review found that it has implemented a number of safety precautions to protect your assets. Their Investor Protection Fund and Security Reserve Mechanism, which hold 20,000 BTC in reserve, prioritize compensating users in the event of asset loss, ensuring that your investments are always protected.
Overall, Huobi offers you peace of mind regarding the security of your account. Because of its dedication to the Don’t Be Evil principle and its effective risk management procedures, you can rest assured that your account and valuables are in good hands.
The customer service staff of Huobi is available to help you in both Mandarin and English. They can be reached through live chat or email ticket system, and they have a reputation for responding to ticker-related inquiries within two to three hours. Also, you can always rely on their friendly and competent agents for assistance.
You can also communicate with the Huobi community through social media and messaging services. Don’t worry if you have any queries; Huobi has a comprehensive FAQ section on its site that addresses all potential problems you can run into.
According to TrustPilot and Huobi reviews, Huobi received a 1.5 out of 5 star rating, based on only 136 exchange platform reviews. Huobi’s Trustpilot rating shows the exchange’s difficulties in keeping all of its clients pleased, despite the fact that the vast majority of customer reviews we’ve come across are positive.
Given that the platform has millions of users, it’s not surprising that some customers have reported difficulties withdrawing funds and communicating with customer support. They’ve also complained about the company being unregulated in some major countries like the US.
Summary of Huobi Global Review
To sum up, Huobi is a reliable crypto exchange platform that provides a wealth of tools to facilitate professional-level trading. Huobi’s extensive training resources, feature-specific design, and decent fees make it an excellent choice for experienced traders despite the platform’s lack of regulation in some countries and its potential complexity for newcomers.
It’s understandable why this exchange made our list of the best crypto exchanges right now. If you’re not already one of Huobi’s users, you should definitely jump on the bandwagon and start trading right away. Be a Huobi magician rather than a crypto muggle!
Is Huobi better than Binance?
To be honest, both are great, but it ultimately comes down to personal preference. Huobi has a vast selection of cryptocurrencies and a cool copy trading feature, while Binance has slightly lower fees and a stronger US presence.
Does Huobi work in the USA?
No, the Huobi platform is not available to US citizens at this time.
Is Huobi trustable?
Absolutely! Reputable cryptocurrency exchange platform Huobi has ten years of experience in the industry, manages over a billion dollars, and serves millions of users. As our Huobi review found, Houbi Global is committed to security and follows strict risk management protocols to protect your assets.
How do I withdraw money from Huobi?
Log in, select “Balances,” select the cryptocurrency you wish to withdraw, enter the amount and withdrawal address, and do the required security checks to withdraw your cryptocurrency from Huobi. After that, take a seat back, unwind, and wait for your money.
What is the minimum deposit for Huobi?
The minimum deposit amount varies based on the token you’re depositing, but for USDT, it’s 100 USDT, and for BTC, it’s 0.001 BTC.